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First, macroeconomics
First, macroeconomicsAbroad, Saudi Arabia actively implemented the production reduction agreement and reduced crude oil production
.
And as part of the production cut agreement, Saudi Arabia will cut crude oil exports
to Southeast Asian countries such as China in February.
In addition, Russia said it was beginning to implement its own production cuts
.
Expectations of strong growth in Chinese demand are the latest sign of higher oil prices, supporting the base metals market
.
Domestically, the National Development and Reform Commission held a press conference on the macroeconomic operation, which involved strengthening the reform of state-owned enterprises, supervising the reduction of steel and coal production capacity, including strict inspection of strip steel, etc.
, arranging investment special construction funds for the construction of various infrastructure projects, etc.
, to set the tone for investment in state-owned enterprise reform and industrial transformation in 2017, stimulating the improvement of commodity demand, and black series such as threads rose in response, and nonferrous metals followed suit, getting rid of the previous situation of two consecutive weeks of sideways trading, forming an effective breakthrough
.
Second, this week's market trend analysis
Second, this week's market trend analysis(i) Market analysis
(i) Market analysis
Analysis of key products of cable raw materials (copper): This week (January 9-January 13) domestic copper prices fluctuated up, taking the Yangtze River spot market as an example, according to cable network monitoring data, the average copper price at the beginning of the week was 45420 yuan / ton, and the average copper price on Friday was 47350 yuan / ton, up 1930 yuan / ton, an increase of about
4.
25%.
On the macro front: The dollar continued to retreat and was positive for copper prices, first the Fed's labor market index fell year-on-year
, and then Trump's failure to detail the new infrastructure spending plan in a press conference disappointed investors.
In addition, China's inflation data hinted at a further recovery in the domestic economy adding impetus
to the upside of copper prices.
It is reported that China's PPI in December far exceeded expectations year-on-year, and the prices of products in the three black and one color (petrochemical, steel, coal, nonferrous metals) industries pulled PPI up sharply, and China's economic inflation expectations heated up, driving commodities higher
.
Market: This week's main trading range is about 45270-47380 yuan / ton, the premium is mainly in C220-B90 yuan / ton, the spot price fluctuates and rises, and the premium rises first and then suppresses
.
This week, the market supply is flat, with many imported brands and a small number of shipments from smelters
.
Traders gradually entered the holiday state, trading activities decreased, downstream manufacturers demand was weak, operating rates fell sharply, entered holiday mode, and purchased a small amount
.
The domestic spot market has gradually turned into a discount since the premium this week, the market supply is increasingly sufficient, the downstream is mainly on-demand procurement, there is no large number of incoming goods, and the transaction is increasingly scarce
.
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